Stock Control Problems (Leaving Cert Applied Maths): Quizzes
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Practise the questions
12 questions from this quiz
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Practise the questions
12 questions from this quiz
What technique does stock control use to find optimal solutions?
What technique does stock control use to find optimal solutions?
Backward induction
How many components are in the total cost formula?
How many components are in the total cost formula?
Four
In the example, what is the storage cost per scooter per month?
In the example, what is the storage cost per scooter per month?
€40
What are overhead costs per month when production occurs?
What are overhead costs per month when production occurs?
€200
Above how many units must an assistant be hired?
Above how many units must an assistant be hired?
3 units
What is the hired labour cost when production exceeds capacity?
What is the hired labour cost when production exceeds capacity?
€350
Which column is NOT in the decision table structure?
Which column is NOT in the decision table structure?
Revenue
Where should you begin the backward induction process?
Where should you begin the backward induction process?
The final month
How is the cost for any decision calculated?
How is the cost for any decision calculated?
Immediate cost + optimal future cost
What is the maximum storage capacity in the example?
What is the maximum storage capacity in the example?
3 scooters
What is the formula for Overall Profit?
What is the formula for Overall Profit?
What is the first step in finding the optimal solution?
What is the first step in finding the optimal solution?
Marking feasible options